Feargal Quinn (Independent) | Oireachtas source

I move amendment No. 1:

In page 63, between lines 24 and 25, to insert the following:" "accountant" means an individual that stands approved as an accountant with the Irish Auditing and Accounting Supervisory Authority (IIASA);".

As the Leas-Chathaoirleach said, this is a small Bill. There used to be an advertisement on television which used the tag, "It is a short name but quare stuff". This is certainly quare stuff.
The amendment is intended to ensure the Bill clarifies the definition of "accountant" once and for all to provide better protection for the customer, both businesses and individuals.

The fact is we do not currently have legislation regulating the term "accountant", and the amendment aims to rectify this. I also have a later associated amendment which proposes to impose fines on people who misrepresent themselves as accountants.

There are a number of problems in this area, including the fact there are a number of accountants who have been expelled from professional bodies but who are still offering their services to the public. That is not correct and I do not believe we knew it was happening. While there are strict standards within accountancy bodies, such as codes of practice, they are in essence voluntary. We then have those operating outside of the system, and even someone with a criminal conviction can set up a business and offer his or her accountancy services to the public without the public knowing. This is not a proper situation and Ireland is unlike many other EU member states which give much-needed protection.

What I am calling for from the Minister of State is some form of mandatory regulation within the Bill to cover the term "accountant" in order to provide better protection for the customer. Specifically, I strongly believe the term "accountant" should only be allowed to be used by those accountancy professionals who are supervised or authorised by the Irish Auditing and Accounting Supervisory Authority. This makes perfect sense. The amendment would merely ensure that an accountant is someone who is properly accredited, nothing more, nothing less.

I should emphasise there would be no cost involved due to this measure. It would simply give more protection to businesses and individuals against fraud, deception and poor performance. From speaking to businesses on a regular basis up and down the country, I am well aware how some of them have suffered in part due to not getting a properly accredited person. This is particularly important for smaller businesses, which may not have the funds to employ an accountant and must hire an external professional.

This is something we should all welcome. I urge the Minister to accept the amendment and my later amendment, which I will discuss later. It aims to curtail people who misrepresent themselves and who could do damage to their customers on that basis. The Leas-Chathaoirleach mentioned two other amendments.